| (a) | - | A, living in Calcutta, is a trustee for B, living in Bombay. A remits trust funds to B by bills drawn by a person of undoubted credit in favour of the trustee as such, and payable at Bombay. The bills are dishonoured. A is not bound to make good the loss. |
| (b) | - | A, a trustee of leasehold property, directs the tenant to pay the rents on account of the trust to a banker, B, then in credit. The rents are accordingly paid to B, and A leaves the money with B only till wanted. Before the money is drawn out, B becomes insolvent. A, having had no reason to believe that B was in insolvent circumstances, is not bound to make good the loss. |
| (c) | - | A, a trustee of two debts for B, releases one and compounds the o .... To read the full section download the app from Google Play store
19 May 2026
Article, CA & Paid Assistant PositionsAggarwal Sarawagi and Co New Delhi CA View Details
22 May 2026
U.S. Financial Reporting & Consolidation ManagerKaria Overseas Ahmedabad CA View Details |
CAclubindia
